Mubasher: The financing portfolio of Kuwait Finance House (KFH) grew by 13.4% to total KWD 9.27 billion ($30.7 billion) by the end of the third quarter of 2017 compared to KWD 1.1 billion by the end of fiscal year 2016, the chairman of KFH, Hamad Al Marzouk, said.
On an annual basis, financing revenues increased by 1.5% to KWD 542.1 million in Q3-17.
Total operating revenues grew by 9.1% to KWD 525.1 million, while the net operating revenues increased by 19.8% to KWD 311.7 million, Al Marzouk added, according to a recent statement.
KFH’s operating expenses continued to decline by 3.5% year-on-year to KWD 7.75 million by the end of the third quarter of 2017.
The value of the bank’s deposit accounts grew by 8.7% to total KWD 11.59 billion in Q3-17 compared to KWD 926 million in Q3-16.
Shareholders’ equity increased by 2% to KWD 35.5 million when compared to the end of 2016.
It is noteworthy that earlier on Monday, KFH disclosed its financial statements of Q3-17, achieving KWD 137.87 million profits in the first nine months of 2017 compared to KWD 123.13 million in the same period a year ago.
At the stock level, KFH closed Monday’s session 1.68% higher at 606 fils, after 4.65 million shares were exchanged at a value of KWD 2.82 million.
